Crypto Assets market analyst Arthur Hayes recently published a thought-provoking article, presenting a controversial viewpoint: the traditional four-year cycle theory may have become obsolete, and a new Bear Market does not seem to be on the horizon yet.

Heis believes that the Bitcoin halving event may not directly trigger a price increase as it has in the past. He points out that the fluctuations in the Crypto Assets market are more influenced by the global liquidity conditions rather than merely the supply and demand relationship.

Hayes Analysis stated that the past market adjustments were mainly caused by tightening monetary policy rather than supply and demand imbalances in the market itself. Currently, the global economy is facing a new round of liquidity expansion: the Federal Reserve has begun a rate-cutting cycle, the U.S. government is seeking economic stimulus measures, and both Japan and China are implementing more accommodative monetary policies.

This analyst predicts that with the decrease in the cost of funds and the increase in available funds, the Crypto Assets market may welcome a new round of growth. Therefore, he believes that the true market peak may not appear in the short term.

Hayes' perspective offers investors a new angle of thought, reminding us to closely monitor changes in the global macroeconomic environment while also focusing on the internal factors of crypto assets. However, considering the high uncertainty of the crypto assets market, investors still need to proceed with caution and manage risks effectively.